BANKING group Lloyds is to close its call centre operation in Bridgend which employs 700.

The bank said staff at the facility will be offered redeployment options at its call centre operations principally in Cardiff, but also in Swansea and Newport.

It said that it hoped to avoid any compulsory redundancies.

The partly stated owned bank said the closure next spring was part of its decision to reduce its number of offices.

In a statement the bank said: “ As part of the group's decision to reduce its number of offices, it will be offering Bridgend contact centre colleagues jobs at existing sites principally in Cardiff, but also in Swansea and Newport.

“This decision is part of a policy to retain expertise and knowledge within the group. Employees will be offered a range of support to help them settle into their new offices before the end of March 2012, when the Bridgend office is due to close.

“Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way. All affected employees have been briefed by their line manager.

“The group's recognised unions LTU and Unite were consulted prior to this announcement and will continue to be consulted throughout the process.

The group’s policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the Group. Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort.

David Fleming, Unite national officer, said: "This decision will devastate the local workforce in Bridgend."

Bethan Jenkins, Plaid Cymru AM for South Wales West said: We've yet to hear from Lloyds, but it is hard to escape the conclusion that it is the author of its own misfortune, and it's Welsh workers that will pay for that."